January 25, 1960

• 1986~1992 Ph.D., Economics, University of Chicago, Madison, U.S.
• 1983~1985 M.A., Economics, Seoul National University, South Korea.
• 1979~1983 B.A., Economics, Seoul National University, South Korea.

• Macroeconomics, Economic Growth

• 2026~Present President, KDI and KDI School of Public Policy and Management
• 2025~2026 Professor Emeritus, Department of Economics, Seoul National University
• 2006~2025 Professor, Department of Economics, Seoul National University
• 1992~2006 Senior Economist, International Monetary Fund (IMF)
• 2000~2003 Visiting Research Fellow, Korea Institute for International Economic Policy (KIEP)
• 1985~1986 Staff Member, SsangYong Investment & Securities
• 2022~2024 Independent Director, Hanwha Life Insurance
• 2019~2022 Independent Director, Industrial Bank of Korea (IBK)
• 2016~Present Founding Member, Seoul National University Professors’ Association for Creativity Education
• 2023~2024 Chair, Education Policy Evidence Research Committee, Ministry of Education, Korea
• 2013~2014 Member, Financial Development Review Committee, Financial Services Commission, Korea
• 2009~2010 Member, Public―Private Consultative Council on Reducing Private Education Expenditures, Prime Minister’s Office, Korea

• · “Exchange Rates and the Working Capital Channel of Trade Fluctuation,” (with Valentina Bruno and Hyun Song Shin), AEA Papers and Proceedings 108, 531-536, 2018.
• · “Sustaining Production Chains through Financial Linkages,” (with Hyun Song Shin), American Economic Review 102, 402-406, 2012.
• · “Bailout and Conglomeration,” Journal of Financial Economics 71, 315-347, 2004.
• · “Macro-Effects of Corporate Restructuring in Japan,” IMF Economic Review 51, 457-493, 2004.
• · “Growth Gains from Trade and Education,” (with Y. Kim), Journal of International Economics 50, 519-545, 2000.
• · “Credit Markets with Differences in Abilities: Education, Distribution, and Growth,” (with J. De Gregorio), International Economic Review 41, 579-608, 2000.
• · “Risks, Privatization and Interenterprise Arrears in Transition Economies,” (with G. Kwon), Economic Systems 23, 225-243, 1999.
• · “Growth Effect of Taxes in an Endogenous Growth Model: To What Extent Do Taxes Affect Economic Growth?” Journal of Economic Dynamics and Control 23, 125-158, 1998.
• · “Human Capital Flight: Impact of Migration on Income and Growth,” (with N. Haque), IMF Economic Review 42, 577-607, 1995.
• · “A Model for Projection of the Number of Doctors in Korea,” Yonsei Medical Journal, 2025.
• · “Measuring the Length of Supply Chains,” (with Ziho Park), SSRN, 2024.
• · “Theory of Supply Chains: a Working Capital Approach,” (with Hyun Song Shin), BIS Working Papers, #1070, 2023.
• · “Development without Banks: Korean Housing Repo Contract,” (with Hyun Song Shin), Working Paper, SNU and BIS, 2024.
• · “Prestige Seeking in College Application and Major Choice,” (with Yeon-Koo Che, Dong Woo Hahm, Jinwoo Kim and Olivier Tercieux), SSRN, 2022.
• · “The Nature of Jeonse and the Scale of Household Debt,” (with Jeheon Ko), 경제논집, 2024. (in Korean)
• · “Korean Jeonse Financing and Household Debts,” (with Jeheon Ko), 경제논집, 2018. (in Korean)
• · “The Fall of Growth and Structural Reform in Korea,” 경제논집, 2016. (in Korean)
• · “Parental Wealth, Children’s Ability and Entering Prestigious Colleges,” (with Keunkwan Ryu and Suk Joon Son), 경제논집, 2015. (in Korean)
• · “Economic Growth and Fair Competition in Education,” 경제논집, 2014. (in Korean)
• · “Creative Human Capital as a Future Growth Engine and Educational Reform,” (with Un-Chan Chung), 경제논집, 2007. (in Korean)

• · Awaking, JoongAng Books, 2024. (in Korean)
• · Imitation and Creation, Dasan Books, 2021. (in Korean)
• · Korean Crisis and Recovery, Editor (with D. Coe), IMF and KIEP, 2002.
• · Creative Revolution, (with Nong-moon Hwang et al.), KOREA.COM, 2016. (in Korean)
• · The Need to Foster Creative Human Capital as a Growth Engine, (with Keunkwan Ryu et al.), Collaborative Research Series, 2011. (in Korean)

• · Order of Civil Merit (Okjo Medal), Government of the Republic of Korea, 2022.

• · Distinguished Service Award, College of Social Sciences, Seoul National University, 2025.
• · Pew Teaching Fellow, University of Chicago, 1988.
• · Century Scholarship, University of Chicago, 1986.
• · Grand Prize Winner, MBC Scholarship Quiz Competition (MBC Television), 1977.